SMART Criteria for Quality Assessment of Key Performance Indicators Used in the Oil and Gas Industry

2020 ◽  
Vol 16 (7) ◽  
pp. 999
Author(s):  
Selvik Jon Tømmerås ◽  
Stanley Ian ◽  
Abrahamsen Eirik Bjorheim
Keyword(s):  
Quality Assessment ◽  
Performance Indicators ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Key Performance Indicators ◽  
Gas Industry

scholarly journals EVALUATION OF EFFECTIVENESS OF DEVELOPING BUSINESS PROCESSES ON ENTERPRISES OF OIL AND GAS INDUSTRY

2018 ◽  
pp. 45-50
Author(s):  
Elena Prokofievna Karlina ◽  
Elina Victorovna Polyanskaya ◽  
Anna Nikolaevna Tarasova
Keyword(s):  
Performance Management ◽  
Balanced Scorecard ◽  
Performance Indicators ◽  
Business Processes ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Key Performance Indicators ◽  
Gas Industry ◽  
The Balanced Scorecard ◽  
Effective Organization

In conditions of high competition on the global markets Russian oil and gas companies are increasingly focusing on the creation of effective system of governance which would allow to concentrate the efforts of the company staff on increasing profitability and maximizing market value, one of the tools for the achievement of which is the effective organization of business processes. The study of LUKOIL, PJSC activity in management of business segments allowed to formulate a conclusion about the appropriateness of the use of the balanced scorecard for performance management of business processes. Building and implementation of the system of key performance indicators is carried out subject to the features of the strategic directions of the company and business segments, which helped to identify two subsystems of its development for LUKOIL, PJSC: key performance indicators for the evaluation of the company as a whole and key indicators for the evaluation of business processes. On the basis of the process approach the key performance indicators of the business process "Well construction management" have been formed and concretized reflecting the industry specifics of the operating and financial activities of the oil and gas industry.

ABOUT NECESSITY OF MATHEMATICAL MODELING OF THE BUSINESS PROCESS OF COST ESTIMATE CALCULATIONS IN THE CONSTRUCTION OF OIL AND GAS FACILITIES

2017 ◽  
pp. 139-145
Author(s):  
R. I. Hamidullin ◽  
L. B. Senkevich
Keyword(s):  
Mathematical Modeling ◽  
Quality Assessment ◽  
Business Process ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Construction Organizations ◽  
The Cost ◽  
Cost Of Construction

A study of the quality of the development of estimate documentation on the cost of construction at all stages of the implementation of large projects in the oil and gas industry is conducted. The main problems that arise in construction organizations are indicated. The analysis of the choice of the perfect methodology of mathematical modeling of the investigated business process for improving the activity of budget calculations, conducting quality assessment of estimates and criteria for automation of design estimates is performed.

scholarly journals The Analysis of Financial Stability and Profitability of British Petroleum (BP) for the period 2014–2019

2020 ◽  
Vol 8 (1) ◽  
pp. 27-33
Author(s):  
Yu. Tumanov
Keyword(s):  
Performance Indicators ◽  
Financial Stability ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
British Petroleum ◽  
Gas Industry ◽  
Commercial Organization ◽  
The Given ◽  
A Company

Any commercial organization tends to make a profit in the course of its activity. As a result, these enterprises may be risky since they take different risks in pursuit of generating a profit and achieving other goals. Taking various risks might make a company less financially stable. In other words, the level of financial stability of a company is likely to be decreased. The importance of the given topic is that analyzing the financial stability and profitability of an entity enables us to determine how financially stable and profitable a company is. Moreover, this analysis allows finding out how particular indicators change from year to year and to prevent a decrease in financial stability and profitability indicators. This paper may be considered as an attempt to analyze the financial stability and profitability of one company from the oil and gas industry, specifically, British Petroleum (BP) for the period from 2014 to 2019. Besides, some recommendations may be developed in terms of increasing the company’s performance indicators if necessary.

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